2 Jun 2014
AUD/USD downside risk limited above 0.9270 – FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXSrtreet commented on the Australian dollar holding around recent highs.
Key Quotes:
“…although losing the strength seen late past week, as the hourly chart shows price below a flat 20 SMA and indicators also horizontal around their midlines, anticipating no clear direction in the short term”.
“In the 4 hours chart however, technical readings maintain a positive tone, as per 20 SMA presenting a clear bullish slope in the 0.9270 area and indicators heading higher above their midlines”.
“As long as below the level, the risk to the downside remains limited with further advances above 0.9340 required to confirm a new leg up”.
Key Quotes:
“…although losing the strength seen late past week, as the hourly chart shows price below a flat 20 SMA and indicators also horizontal around their midlines, anticipating no clear direction in the short term”.
“In the 4 hours chart however, technical readings maintain a positive tone, as per 20 SMA presenting a clear bullish slope in the 0.9270 area and indicators heading higher above their midlines”.
“As long as below the level, the risk to the downside remains limited with further advances above 0.9340 required to confirm a new leg up”.